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...Royal London, the life insurer which had its own role in the events at LV, earlier this month said it would enter the corporate pensions market, where companies offload their defined benefit pension schemes...
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...“The role of reinsurance, particularly offshore reinsurance, is making [it] even harder to regulate an already opaque life insurance sector,” he added....
...the mutual in 2022....
...While recognising the hurdles, people familiar with Nationwide’s approach say that its mutual status affords it greater time to pull off the integration than if it were a listed company beholden to shareholders...
...The mutual will pay 220p per share for the challenger bank, in a combination that the companies say will create the second-largest provider of mortgages and savings in the UK....
...Nationwide, the country’s largest mutual, has attracted ire from campaigners and some of its members in recent weeks who argue that it should put its purchase of Virgin Money to a vote....
...The deal would also be a rare acquisition of a listed company by a mutual, which is owned by its more than 16mn members who have a current account, mortgage or savings with the company....
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...Last week, it announced it had made a new loan to executive networking company World 50 and while filings show it was already a lender to the company, a person close to Barings described it as a “net new...
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...In addition, she pointed to the rise of new distribution channels such as online brokerages and neobrokers that are disrupting the dominant bank and insurance company distribution systems in Europe....
...In July 2022, the firm secured a €7bn pool to lend to European midmarket companies, the largest fund it has ever raised....
...Regulatory scrutiny of the special risks presented by private equity ownership of life insurance companies has climbed, after Italy’s Eurovita — another life insurer majority owned through Cinven funds —...
...The increase was mostly due to higher adjusted pay and benefits, according to the company’s earnings commentary....
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...The company said in a Monday statement the two would part ways after the current contract expires on September 30, having failed to agree “mutual terms” during the renegotiation process....
...A body representing global insurance regulators has called for “enhanced supervision” of private capital-owned life insurers, citing potential “conflicts of interest” and “increased risk-taking”....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
..., which is a significant provider of home, motor and life insurance, and has more than 18mn customers worldwide....
...The Belgian company reinforced the idea that this is a cut-price, opportunistic bid, with a second cash-and-shares proposal of about 239p per share....
...But Kuvare has established itself as a canny specialist in the bespoke assets that life insurers invest in. Kuvare joins a growing trend....
...I worked for some years for a mutual insurance company that is now probably the best capitalised insurer in the UK....
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